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Neporo4naja [7]
2 years ago
9

Williams Manufacturing uses scrap metal to produce various tools, such as drill bits, hammer heads, saw blades, and nails. The C

EO has asked you to analyze the saw blades division to determine asset turnover for last quarter. You find that the saw blades division had an ROI of 30%, sales of $10.50 million, and operating profits of $1.050 million. What was the asset turnover rate for last quarter?
Business
1 answer:
telo118 [61]2 years ago
7 0

Answer:

3 times per year

Explanation:

ROI = Profit/Sales * Sales/Asset

30% = 1,050,000/10500000 * Asset Turnover

30% = 10% *  Asset Turnover

Asset Turnover = 30%/10%

Asset Turnover = 3 times per year

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